https://www.taxtmi.com/caselaws?id=388169 Where inspection discloses unaccounted sales supported by estimate bills and credit note books, together with stock shortage indicating defective records, the reassessing authority may invoke best judgment under Section 39(1) to add escaped turnover; the additions for suppressed sales and stock discrepancy were sustained. On penalty, however, where the return for the relevant tax period had already disclosed the turnover detected during inspection, the penalty under Section 72(2) required reconsideration and fresh determination by the assessing authority; it was therefore set aside only for redetermination. en-us Tue, 17 Sep 2019 00:00:00 +0530 Sat, 09 Nov 2019 07:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388169 Where inspection discloses unaccounted sales supported by estimate bills and credit note books, together with stock shortage indicating defective records, the reassessing authority may invoke best judgment under Section 39(1) to add escaped turnover; the additions for suppressed sales and stock discrepancy were sustained. On penalty, however, where the return for the relevant tax period had already disclosed the turnover detected during inspection, the penalty under Section 72(2) required reconsideration and fresh determination by the assessing authority; it was therefore set aside only for redetermination. Case-Laws VAT and Sales Tax Tue, 17 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388169